Charity registration number 309060
ST PAUL'S PARISH ROOMS TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
ST PAUL'S PARISH ROOMS TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustee | Parochial Church Council of the Ecclesiastical Parish of St Paul's |
|---|---|
| Wokingham | |
| Charity number | 309060 |
| Principal address | St Paul's Parish Rooms |
| Reading Road | |
| Wokingham | |
| Berkshire | |
| RG41 1EH | |
| Registered office | St Paul's Parish Rooms |
| Reading Road | |
| Wokingham | |
| Berkshire | |
| RG41 1EH |
ST PAUL'S PARISH ROOMS TRUST
CONTENTS
| Page | |
|---|---|
| Trustee report | 1 |
| Independent examiner's report | 2 |
| Statement of financial activities | 3 |
| Balance sheet | 4 |
| Notes to the financial statements | 5 - 10 |
ST PAUL'S PARISH ROOMS TRUST
TRUSTEE REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustee presents its annual report and financial statements for the year ended 31 December 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's Trust Deed, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).
Objectives and activities
The objectives of the Charity are to: (1) Award grants to persons under the age of 25, who live or are educated within the parish, for the furtherance of their education (2) Provide grants to St Paul's C of E Junior School for the furtherance of religious knowledge. (3) Provide grants to the St Paul's Sunday School for the furtherance of religious knowledge.
To achieve these objectives the Parish Rooms are let on a fee-paying basis and the surplus each year, after deducting reserves , is used to make grant payments.
Achievements and performance
Significant activities and achievements against objectives
During the year-ended 31 December 2024, three grants to the total of £5,684 were made in accordance with the stated objectives.
Financial review
Financial Review:
During the year the Charity achieved a net income of £39,771 and had reserves of £123,982 at 31 December 2024.
Income of £19,231 was received during the year from interest on proceeds which arose from the historical sale of a parcel of land associated with the Trust Deed. The capital proceeds are held on term deposit by the Diocese, who permit the Charity to receive the interest that is accumulating from this investment.
Reserves policy
The Charity maintains sufficient reserves to maintain the Parish Rooms in good repair for the foreseeable future. Net income surplus to this requirement is set aside in a designated fund from which grant payments can then be made in accordance with the charitable objectives.
The Charity invites applications for grant payments from eligible candidates, and is in regular contact with the Junior School and Senior schools within the Parish, and the Parish Sunday School as potential beneficiaries of future grant payments.
The Trustee report was approved by.
Peter Wells
Chairman, for and on behalf of the Parochial Church Council of the Ecclesiastical Parish of St Paul's Wokingham. Trustee
Date: .............................................30 March 2025
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ST PAUL'S PARISH ROOMS TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEE OF ST PAUL'S PARISH ROOMS TRUST
I report to the Trustee on my examination of the financial statements of St Paul's Parish Rooms Trust (the Charity) for the year ended 31 December 2024.
Responsibilities and basis of report
As the Trustee of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Jason Searancke
Chartered Accountant, Chartered Accountants Australia and New Zealand (#28559) 90 London Road
Wokingham RG40 1YF
Dated: ....................30 March 2025
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ST PAUL'S PARISH ROOMS TRUST
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
| Notes Income from: Charitable activities 2 Investments 3 Total income Charitable activities 4 Net income/(expenditure) and movement in funds Transfers between funds Reconciliation of funds: Fund balances at 1 January 2024 Fund balances at 31 December 2024 |
General funds Grant funds Land sale Interest funds 2024 2024 2024 £ £ £ 72,236 - - 1,565 - 19,231 73,801 - 19,231 47,576 5,684 - 26,225 (5,684) 19,231 (13,112) 13,112 - 31,404 14,217 38,589 44,517 21,645 57,820 |
Total 2024 £ 72,236 20,796 93,032 53,260 39,772 - 84,210 123,982 |
General funds Grant funds Land Sale Interest funds 2023 2023 2023 £ £ £ 65,405 - - 819 - 14,128 66,224 - 14,128 60,478 4,124 - 5,746 (4,124) 14,128 (2,873) 2,873 - 28,531 15,468 24,461 31,404 14,217 38,589 |
Total 2023 £ 65,405 14,947 |
|---|---|---|---|---|
| 80,352 | ||||
| 64,602 | ||||
| 15,750 - 68,460 |
||||
| 84,210 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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ST PAUL'S PARISH ROOMS TRUST
BALANCE SHEET
AS AT 31 DECEMBER 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Current assets | |||||
| Debtors | 9 | 1,706 | 2,110 | ||
| Cash at bank and in hand | 124,988 | 88,019 | |||
| 126,694 | 90,129 | ||||
| Creditors: amounts falling due within one | 10 | ||||
| year | 2,712 | 5,919 | |||
| Net current assets | 123,982 | 84,210 | |||
| The funds of the Charity | |||||
| Land Sale Interest | 12 | 57,820 | 38,589 | ||
| General Reserves | 44,517 | 31,404 | |||
| Grant Fund | 13 | 21,645 | 14,217 | ||
| 123,982 | 84,210 |
The financial statements were approved on 30 March 2025 by
Peter Wells
Chairman, for and on behalf of Parochial Church Council of the Ecclesiastical Parish of St Paul's Wokingham. Trustee
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ST PAUL'S PARISH ROOMS TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies
Charity information
The Trust Deed permits the Trustee to appropriate and use as a parish room the land with the building known as St Paul's Parish Room. The land which contains the Parish Rooms is vested in a Custodian Trustee, Diocesan Trustees (Oxford) Limited, and held in Trust for the Charity. No compensation is paid to the Custodian Trustee by the Charity.
1.1 Accounting convention
The financial statements have been prepared in accordance with the Charity's [governing document], the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The Charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the Trustee has a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustee continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustee in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
1.4 Income
Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7 Financial instruments
Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.
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ST PAUL'S PARISH ROOMS TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies
(Continued)
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.
2 Income from charitable activities
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Charitable Income | ||
| Room Hire | 71,554 | 65,305 |
| Other income | 682 | 100 |
| 72,236 | 65,405 |
3 Income from investments
| Bank | Land sale | Total | Bank | Land Sale | Total | |
|---|---|---|---|---|---|---|
| Interest | Interest | Interest | Interest | |||
| 2024 | 2024 | 2024 | 2023 | 2023 | 2023 | |
| £ | £ | £ | £ | £ | £ | |
| Interest receivable | 1,565 | 19,231 | 20,796 | 819 | 14,128 | 14,947 |
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ST PAUL'S PARISH ROOMS TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
4 Expenditure on charitable activities
| General 2024 £ Premises Costs Water 861 Light & Heat 3,681 Repairs & Renewals General Repairs 2,136 Fire & Electrical Maintenance 467 Plumbing & Heating Repairs 232 Alarm Maintenance 672 Cleaning & Waste 17,315 Pest Control 648 Dishwasher Expenses 216 Door Maintenance - Hotwater Boiler 168 Administration Insurance 2,232 Parish Administration 15,505 Telephone & Broadband 1,173 Other Expenses Miscellaneous 18 Legal & Professional 1,152 Capital Expenditure Car Park Barriers - Car Park Light Bollards 1,100 New Pathway - New Hand Rail - Tables - Cycle racks - Projector - 47,576 Grant Payments - 47,576 Analysis by fund General fund 47,576 Grant fund - 47,576 |
Grant 2024 £ - - - - - - - - - - - - - - - - - - - - - - - - 5,684 5,684 - 5,684 5,684 |
Total General 2024 2023 £ £ 861 820 3,681 3,357 2,136 751 467 904 232 1,011 672 677 17,315 14,562 648 565 216 72 - 186 168 65 2,232 2,282 15,505 13,612 1,173 894 18 65 1,152 500 - 418 1,100 8,967 - 7,680 - 1,656 - 576 - 504 - 354 47,576 60,478 5,684 - 53,260 60,478 47,576 60,478 5,684 - 53,260 60,478 |
Grant 2023 £ - - - - - - - - - - - - - - - - - - - - - - - - 4,124 4,124 - 4,124 4,124 |
Total 2023 £ 820 3,357 751 904 1,011 677 14,562 565 72 186 65 2,282 13,612 894 65 500 418 8,967 7,680 1,656 576 504 354 |
|---|---|---|---|---|
| 60,478 4,124 |
||||
| 64,602 | ||||
| 60,478 4,124 |
||||
| 64,602 |
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ST PAUL'S PARISH ROOMS TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
5 Grants payable
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Grants paid | 5,684 | 4,124 |
6 Trustee
The Trustee has not received any remuneration or benefits from the Charity during the year.
7 Employees
The average monthly number of employees during the year was:
| 2024 | 2023 |
|---|---|
| Number | Number |
| 1 | 1 |
There were no employees whose annual remuneration was more than £60,000.
8 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
9 Debtors
| Amounts falling due within one year: Trade debtors Prepayments and accrued income 10 Creditors: amounts falling due within one year Notes Other taxation and social security Deferred income 11 Trade creditors Other creditors Accruals |
2024 £ 1,283 423 1,706 2024 £ 57 1,254 516 1 884 2,712 |
2023 £ 246 1,864 |
|---|---|---|
| 2,110 | ||
| 2023 £ - 715 4,390 - 814 |
||
| 5,919 |
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ST PAUL'S PARISH ROOMS TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
11 Income in Advance
| Income in Advance | ||
|---|---|---|
| Income in Advance Income in Advance is included in the financial statements as follows: Income in Advance is included within: Current liabilities |
2024 £ 1,254 2024 £ 1,254 |
2023 £ 715 |
| 2023 £ 715 |
12 Land Sale Interest Fund
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
| At | 1 | January | Incoming | At |
31 | December |
|---|---|---|---|---|---|---|
| 2024 | resources | 2024 | ||||
| £ | £ | £ | ||||
| 38,589 | 19,231 | 57,820 |
13 Grant Fund
These are unrestricted which are material to the Charity's activities.
| At | 1 | January | Resources | TransfersAt | 31 | December | |
|---|---|---|---|---|---|---|---|
| 2024 | expended | 2024 | |||||
| £ | £ | £ | £ | ||||
| 14,217 | (5,684) | 13,112 | 21,645 | ||||
| Previous year: | At | 1 | January | Resources | TransfersAt | 31 | December |
| 2023 | expended | 2023 | |||||
| £ | £ | £ | £ | ||||
| 15,468 | (4,124) | 2,873 | 14,217 |
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ST PAUL'S PARISH ROOMS TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
14 General Fund
The unrestricted general funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At | 1 | January | Incoming | Resources | TransfersAt | 31 | December | |
|---|---|---|---|---|---|---|---|---|
| 2024 | resources | expended | 2024 | |||||
| £ | £ | £ | £ | £ | ||||
| 31,404 | 73,801 | (47,576) | (13,112) | 44,517 | ||||
| Previous year: | At | 1 | January | Incoming | Resources | TransfersAt | 31 | December |
| 2023 | resources | expended | 2023 | |||||
| 28,531 | 66,224 | (60,478) | (2,873) | 31,404 |
15 Land Sale Fund
The Charity has a further reserve known as 'Land Sale'. The Custodian Trustee permits the Charity to receive interest income from the proceeds which were derived from the historical sale of a parcel of land associated with the Trust Deed and placed on term deposit. The accumulated interest is held separate from the other Funds of the Charity pending clarification with the Custodian Trustee and regulators that the funds may be applied to the charitable objectives.
16 Assets Purchased
Assets purchased to maintain the Parish Rooms are expensed in the Statement of Financial Activities. A register of assets is maintained for stewardship and insurance purposes. The cost of such assets recorded in the register at the end of the financial year was £75,602 (2023: £75,099).
17 Related Party Transactions
The Charity received £13,531 (2023: £13,232) from the Trustee as reimbursement of payroll and incidental expenses.
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